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Foreign ownership of our resources and businesses.
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<blockquote data-quote="mbasko" data-source="post: 660598" data-attributes="member: 4485"><p>Gotta laugh at the MichaelWest article that says:</p><p></p><p>Then the author uses an equally misleading tactic by using the total export revenue to show the percentage of tax + royalties. It would be much fairer to show as a percentage of profit not total revenue but using total revenue looks far more dramatic.</p><p>He fails to recognise the overall contribution to the Australian economy mining makes - wages/salaries, expenditure, other excise/taxes etc. etc.</p><p>Yes there are definitely for & against arguments with mining industry tax/royalties (or any other major industries in fact) but I wouldn't be thinking these "independent" journalists have no bias or agenda to push.</p><p>Not sure about Norway's system? It seems one industry is funding an entire countries pension system - is that fair? Does Norway rely on taxes/royalties for infrastructure like we do in Australia? They are a small country with a small population so I'd assume not near as much as we do so I'd be wary whether a scheme like that would work as well here?</p></blockquote><p></p>
[QUOTE="mbasko, post: 660598, member: 4485"] Gotta laugh at the MichaelWest article that says: Then the author uses an equally misleading tactic by using the total export revenue to show the percentage of tax + royalties. It would be much fairer to show as a percentage of profit not total revenue but using total revenue looks far more dramatic. He fails to recognise the overall contribution to the Australian economy mining makes - wages/salaries, expenditure, other excise/taxes etc. etc. Yes there are definitely for & against arguments with mining industry tax/royalties (or any other major industries in fact) but I wouldn't be thinking these "independent" journalists have no bias or agenda to push. Not sure about Norway's system? It seems one industry is funding an entire countries pension system - is that fair? Does Norway rely on taxes/royalties for infrastructure like we do in Australia? They are a small country with a small population so I'd assume not near as much as we do so I'd be wary whether a scheme like that would work as well here? [/QUOTE]
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Foreign ownership of our resources and businesses.
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